Mumbai: IL&FS Securities Services has filed a criminal case against the Economic Offences Wing of Delhi Police in the Delhi High Court, a development that could affect the efforts of the new management at InfrastructureNSE 0.81 % Leasing & Financial Services (IL&FS) to sell the securities business.
In its petition, IL&FS Securities has called an EOW order illegal, which restrained the company from transferring mutual fund units deposited as collateral by a broker that ha ..
IL&FS Securities was the first business to be put on block by parent IL&FS, as the new management that took over the infrastructure company after it defaulted on payments tries to raise funds to pare its debt of Rs 91,000 crore. Private sector banks including HDFC Bank, ICICI Bank, Axis Bank and private equity firm promoted by Rakesh Jhunjhunwala Rare Enterprises had put up bids for the unit.
In its petition, IL&FS Securities has called an EOW order illegal, which restrained the company from transferring mutual fund units deposited as collateral by a broker that ha ..
IL&FS Securities was the first business to be put on block by parent IL&FS, as the new management that took over the infrastructure company after it defaulted on payments tries to raise funds to pare its debt of Rs 91,000 crore. Private sector banks including HDFC Bank, ICICI Bank, Axis Bank and private equity firm promoted by Rakesh Jhunjhunwala Rare Enterprises had put up bids for the unit.
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